The Asia Pacific Confectionery Market would witness market growth of 5.4% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 10,931.2 Kilo Tonnes, showcasing a growth of 5.5% (2019-2022).
Approximately one-third of people now consume better-for-you (BFY) snacks when choosing between savory and sweet snacks. Keeping a balanced diet is the primary motivation behind selecting BFY snacks. Snacks with reduced sugar or fat content and increased positives like fiber or protein are seen by consumers as the hallmarks of a healthy snack. Over a range of snacking occasions, preferences for sweet snacks are greater than those for savory options. Sweet snacks are frequently thought of as kid-friendly treats or get-together snacks.
Furthermore, the rapid proliferation of new alcoholic beverages has finally caused people to spend more on liquor candies, driving up demand. Convenience and people's preference for handmade liquor candies account for most of the increase, and these factors will only serve to raise demand. It is also easier for new businesses to enter the market with distinctive, creative, natural, and flavored sweets because of the growing demand for organic liquor sweets. This is giving manufacturers of liquor chocolate profitable chances to expand their consumer base.
Across different Asian countries, sweets and candies hold symbolic significance, often integral to festivals, ceremonies, and religious occasions. For instance, during the Lunar New Year in China or the Diwali festival in India, the exchange of confections is customary, symbolizing goodwill, prosperity, and the sharing of happiness among families, friends, and communities. Additionally, manufacturers and brands have expanded their presence and invested in regional marketing efforts. They've introduced various products tailored to local tastes while leveraging their brand recognition to capture market share. The confluence of these factors has resulted in a thriving market in the Asia Pacific region.
The China market dominated the Asia Pacific Confectionery Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $26,161.1 million by 2030. The Japan market is registering a CAGR of 4.6% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6% during (2023 - 2030).
Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Product Type, the market is segmented into Chocolate (Milk, Dark, and White) Mints, Medicated Confectionery, Hard-boiled Sweets, Gums & Jellies, Caramels & Toffees, Fine Bakery Wares, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mars, Inc., Nestle S.A, Mondelez International, Inc., Ferrero Group, Lindt & Sprungli AG, The Hershey Company (Hershey Trust Company), Meiji Holdings Co., Ltd., Lotte Corporation, Delfi Limited and Ezaki Glico Co., Ltd.
Approximately one-third of people now consume better-for-you (BFY) snacks when choosing between savory and sweet snacks. Keeping a balanced diet is the primary motivation behind selecting BFY snacks. Snacks with reduced sugar or fat content and increased positives like fiber or protein are seen by consumers as the hallmarks of a healthy snack. Over a range of snacking occasions, preferences for sweet snacks are greater than those for savory options. Sweet snacks are frequently thought of as kid-friendly treats or get-together snacks.
Furthermore, the rapid proliferation of new alcoholic beverages has finally caused people to spend more on liquor candies, driving up demand. Convenience and people's preference for handmade liquor candies account for most of the increase, and these factors will only serve to raise demand. It is also easier for new businesses to enter the market with distinctive, creative, natural, and flavored sweets because of the growing demand for organic liquor sweets. This is giving manufacturers of liquor chocolate profitable chances to expand their consumer base.
Across different Asian countries, sweets and candies hold symbolic significance, often integral to festivals, ceremonies, and religious occasions. For instance, during the Lunar New Year in China or the Diwali festival in India, the exchange of confections is customary, symbolizing goodwill, prosperity, and the sharing of happiness among families, friends, and communities. Additionally, manufacturers and brands have expanded their presence and invested in regional marketing efforts. They've introduced various products tailored to local tastes while leveraging their brand recognition to capture market share. The confluence of these factors has resulted in a thriving market in the Asia Pacific region.
The China market dominated the Asia Pacific Confectionery Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $26,161.1 million by 2030. The Japan market is registering a CAGR of 4.6% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6% during (2023 - 2030).
Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Product Type, the market is segmented into Chocolate (Milk, Dark, and White) Mints, Medicated Confectionery, Hard-boiled Sweets, Gums & Jellies, Caramels & Toffees, Fine Bakery Wares, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mars, Inc., Nestle S.A, Mondelez International, Inc., Ferrero Group, Lindt & Sprungli AG, The Hershey Company (Hershey Trust Company), Meiji Holdings Co., Ltd., Lotte Corporation, Delfi Limited and Ezaki Glico Co., Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel (Volume, Kilo Tonnes, Revenue, USD Billion/Million, 2019-30)- Offline
- Online
- Chocolate
- Milk
- Dark
- White
- Mints
- Medicated Confectionery
- Hard-boiled Sweets
- Gums & Jellies
- Caramels & Toffees
- Fine Bakery Wares
- Others
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Mars, Inc.
- Nestle S.A
- Mondelez International, Inc.
- Ferrero Group
- Lindt & Sprungli AG
- The Hershey Company (Hershey Trust Company)
- Meiji Holdings Co., Ltd.
- Lotte Corporation
- Delfi Limited
- Ezaki Glico Co., Ltd
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Asia Pacific Confectionery Market, by Distribution Channel
Chapter 6. Asia Pacific Confectionery Market, by Product Type
Chapter 7. Asia Pacific Confectionery Market, by Country
Chapter 8. Company Profiles
Companies Mentioned
- Mars, Inc.
- Nestle S.A
- Mondelez International, Inc.
- Ferrero Group
- Lindt & Sprungli AG
- The Hershey Company (Hershey Trust Company)
- Meiji Holdings Co., Ltd.
- Lotte Corporation
- Delfi Limited
- Ezaki Glico Co., Ltd
Methodology
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